Summary
President Donald Trump is deciding who should be the next Federal Reserve chair. He has narrowed it down to two candidates: Kevin Warsh and Kevin Hassett. Trump's decision depends on whether Jerome Powell, the current chair, leaves his position next year.
Key Facts
- President Trump is considering Kevin Warsh and Kevin Hassett for Federal Reserve chair.
- Jerome Powell was reappointed by Joe Biden and his term runs until 2026.
- Trump has expressed dissatisfaction with Powell, whom he nominated during his first term.
- Trump prefers a Fed chair who supports lower interest rates.
- Kevin Warsh was a Fed governor from 2006 to 2011 and has experience in economics and statistics.
- Kevin Hassett is a former leader of the Council of Economic Advisors and has a background in economics.
- Trump wants the Fed chair to consult with the president on interest rates, although this is not a current practice.
